United Bank for Africa Plc and Mastercard have announced the launch of the Mastercard prepaid card to deepen financial inclusion and expand access to digital payment solutions across Africa.
In a statement on Tuesday, UBA said that the card, which does not require a traditional bank account, is designed to serve individuals who have historically lacked access to formal financial services, particularly young adults, gig workers, and low-income earners.
It enables users to top up funds easily, transact both locally and internationally, and manage spending with flexibility and security.
With more than 28.9 million adults in Nigeria remaining unbanked and digital-first tools increasingly demanded by youth and freelancers, the prepaid card directly addresses pressing gaps in the financial ecosystem.
Group Head, Retail & Digital Banking, United Bank for Africa, Shamsideen Fashola, who spoke on the launch, described it as a demonstration of the bank’s customer-first approach.
He said, “This collaboration with Mastercard is yet another demonstration of our customer-first approach. We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all.”
Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal, said, “At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions that serve both banked and unbanked Nigerians. Collaborating with UBA enables us to unlock endless possibilities by connecting individuals across all income levels, demographics, and social strata. Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future.”
The prepaid cardholders can use it as a convenient budgeting tool; freelancers and gig workers gain a flexible expense solution; and the unbanked are empowered through a secure, reloadable allowance card. The product is globally accepted and supported by Mastercard’s trusted infrastructure, providing users with peace of mind and seamless digital payment experiences.
